Danish funding agency Copenhagen Infrastructure Companions (CIP) on Friday introduced a partnership for the event of over 1,800 MW of renewable vitality initiatives in India, primarily these within the onshore wind phase.
CIP, by way of its Copenhagen Infrastructure New Markets Fund I (CI NMF I), signed a framework settlement with Indian developer and balance-of-plant contractor Viviid Renewables Personal Restricted to work on delivering the pipeline.
The primary to return out of the partnership are two onshore wind initiatives totalling over 500 MW. Extra initiatives are anticipated to be developed and constructed by way of successor CI NMF funds, the Danish infrastructure investor mentioned.
The roles are break up as follows: Viviid will contribute initiatives from its improvement pipeline to the partnership, function developer on key actions main as much as remaining funding resolution and supply design, engineering, procurement and development companies, whereas CIP will lead off-take sourcing, basic procurement and the financing course of.
Particulars on the scale of the funding or the deliberate timeline for the initiatives weren’t disclosed.
“This is the second CI NMF I partnership in the Indian renewable energy market, reflecting India’s continuing importance as a key focus area for the fund,” Peter Sjontoft, affiliate companion in CIP, mentioned in a ready assertion.
Added Siddharth Mehra, founding father of Viviid: “We are very excited to be partnering with CIP to accelerate delivery of our project pipeline over the coming years. Through this long-term partnership, we aim to further strengthen our contribution to India’s ambitious target of installing 500GW of generation capacity from renewable sources by 2030.”